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How to keep your cryptocurrency safe – CNET

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One of the hallmark qualities of cryptocurrency is its virtuality. Unlike most other forms of currency, crypto has no physical embodiment. You can’t get it as paper, coin, bar of gold or fancy bead. There’s no token that needs to be locked up in a bank vault or buried beneath a mattress.

But like anything valuable, cryptocurrency needs to be protected. It exists as a natively digital entity that requires an internet connection for any transaction — and that connectedness makes it vulnerable to hacking. In fact, despite its ethereal nature, it’s at least as susceptible to plunder as cash or gold. And with cryptocurrency, these violations are likely to come remotely.

Read: Bitcoin explained — everything you need to know

Many newcomers buy cryptocurrency from an exchange, such as Coinbase or BitFlyer, and leave their holdings in those sites’ “custodial” wallets. But like any other online entity, the exchanges are vulnerable to hacking — and as the crossroads for many billions of dollars of transactions every day, they make for particularly attractive targets. The cautionary tales of Mt. Gox, which “lost” 750,000 of its customers’ bitcoins in 2014;NiceHash, which was robbed of $60 million in December 2017; and a recent close call at Binanceshow the risks associated with leaving your coins in an exchange’s online wallet.

Conventional wisdom dictates that if you’ve got more virtual currency than you’d be comfortable carrying around on your person, or you intend to hold it as a long-term investment, you should keep it in “cold storage.” This could be a computer that’s disconnected from the internet or a specialized USB drive called a hardware wallet. (We’ll take a look at how those work in a future explainer.)

Dedicating a computer to store your cryptocurrency or shelling out for a hardware wallet isn’t an option for everyone, however. Well known devices such as the Trezor and Ledger cost between $75 and $100 and, by design, add complexity and a few extra steps to every transaction. Software wallets, by contrast, are usually free and easily accessed though, ultimately, less secure.

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A cryptocurrency wallet’s primary function is to store the public and private keys you need to conduct a transaction on the blockchain. Many also offer features such as integrated currency swapping. There are three main kinds of software wallets — desktop, online and mobile — and each offers a different combination of convenience and security.

Desktop wallets are software you install on your computer. They give you lots of control over your assets but, if connected to the internet, remain vulnerable. A malware infection, the remote takeover of your computer or — even if you’re not online — a hard-drive failure could be a catastrophe.

Read:Blockchain Decoded on CNET

Online wallets are hosted on a website. This makes them convenient because they’re accessible from any internet-connected device. The downside: Your private keys are (theoretically) known to the website owner and, from a technical perspective, there’s not much to stop them from simply taking your coins.

Mobile app wallets are optimized for retail transactions — that is, paying for stuff with bitcoin or another cryptocurrency. But because your encryption keys are stored on your phone, you lose your coins if you lose your device. You thought it was a bummer to leave your phone in a taxi? Imagine how bad it will be if it has thousands of dollars of cryptocurrency locked on it.

Whether you choose a hardware, software or paper wallet to manage your passwords and private keys, there are a handful of things you can do to keep your stash safer. These include:

We’ll take a high-level view of some well known software wallets to provide an overview of the different features and tradeoffs to consider.

Note: There are many wallet options available, and we have not comprehensively tested any of these. As such, we cannot recommend any of them. As with everything related to cryptocurrency, you are advised to do your own research before making any decisions. Caveat emptor!

A versatile online wallet, Jaxx can be installed on a computer (Windows, Mac or Linux), added as an extension to the Chrome web browser, or downloaded as an app on an Android or Apple phone or tablet. In addition to helping you store dozens of cryptocurrencies, Jaxx’s support for the ShapeShift API makes it easy to swap coins — say, Litecoin for Ether — right inside the wallet. ShapeShift’s exchange rates aren’t always as low as what you’ll find on major exchanges and they do charge a transaction fee (or “miner fee”), which was about 40 cents on the Bitcoin to Ether transaction we priced out. Jaxx offers novices an easy pathway into alt-coins that aren’t yet supported by Coinbase or Bittrex.

Learn more: jaxx.io

Super simple to install and use, MetaMask is a specialist, supporting only ERC20 tokens — that is, any cryptocurrency built on the Ethereum platform. The good news: there are about 50,000 or so tokens (and projects) built on Ethereum, accounting for roughly 90 percent of the total cryptocurrency market cap, which was more than $200 billionat the time of writing, according to CoinMarketCap.com.

MetaMask can be used to send, receive and store Ethereum tokens and private keys. All of the data is encrypted and stored locally, making it difficult for the developers or anyone else to steal your keys or coins remotely. And, in addition to its storage and transactional capabilities, the MetaMask extension connects most web browsers (Chrome, Firefox, Opera and Brave) with the growing universe of decentralized applications, also known as dApps, being built on the Ethereum platform.

Learn more: metamask.io

The Exodus software wallet is a good entry-level wallet for cryptocurrency newcomers. It’s known for responsive customer support, copious user documentation and a refined design and interface. It accommodates dozens of coins (here’s a full list) and was the first wallet to support Shapeshift. There’s no mobile app yet, however, and Exodus doesn’t offer two-factor authentication or multisignature addressing, which gives you the power to require approval from multiple devices before finalizing a transaction. This could give security-minded coin owners pause.

Learn more: exodus.io

One of the first mobile wallets, Mycelium has since established a solid reputation as a secure and user-friendly way to store bitcoin (and, so far, only bitcoin). Like any credible wallet, it lets you generate a set of 12 “seed words” that will help you restore the wallet if you lose access to your private keys. There’s no desktop interface, but it can be used in tandem with a cold storage solution, managing your accounts on a hardware device like a Trezor or Ledger. (The company also produces a USB key that generates paper wallets; plug it into your printer and out comes a paper wallet without any need for a computer.)

Instead of using ShapeShifter, Mycelium runs its own reputation-based exchange platform, which helps coordinate bitcoin trades between buyers and sellers. Transactions incur a fee that ranges from about 70 cents to $8 depending on the priority you set — that is, how quickly you want it to be confirmed and added to the blockchain.

Learn more: wallet.mycelium.com

Remember: Do your own research before installing or using any of these wallet technologies — or trading or investing in any cryptocurrency.

Buying and selling bitcoin: A quick and dirty introduction to trading cryptocurrency.

Initial coin offerings, explained: How can this possibly be a legitimate way to raise money?

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Data Storage – Flash Storage, NAS, Object … – Dell EMC US

1 Based on a Forrester TEI Study commissioned by Dell EMC: Improved Performance And Cost Efficiency Enabled By The Dell EMC All-Flash Storage Portfolio, September 2017. Results based on a composite org constructed from (4) customer interviews, and are a comparison to traditional disk storage. Risk-adjusted ROI assumes a yearly 10% discount.

2 Ranking by vendor revenue. IDC Tracker, “Worldwide Quarterly Enterprise Storage Systems Tracker, 4Q17.

3,7 Dell internal analysis, April 2017. Net effective capacity after 5:1 data reduction including 5 years of 7x24x4hour on-site support as compared to other midrange storage from major vendors when using the same mix of SSD and HDD capacity. Customers price may vary based on a variety of circumstances and data should be used for comparison purposes.

4 IDC White Paper, “Software Defined Storage: A Pervasive Approach to IT Transformation Driven by the 3rd Platform.” November 2015.

5 #1 External Enterprise Storage Systems, IDC WW Quarterly Enterprise Storage Systems Tracker, Q3 2017, November 2017 Vendor Revenue.

6 Average results based on Principled Technologies report, Manage transactional and data mart loads with superior database performance and high availability, August 2017, comparing similarly configured Dell EMC VMAX 250F All Flash arrays with Dell EMC PowerEdge R930 servers, to HPE 3PAR StoreServ 8450 with Proliant DL580 servers, using a SLOB utility workload and data mart load. Actual performance will vary based on configuration, usage, and manufacturing variability.

8 Based on Principled Technologies Report sponsored by Dell EMC: “Get rid of database workload silos,” January 2018, comparing to a solution based on the HPE Nimble Storage AF5000 All-Flash Array during a data mart import. Actual results will vary based on configuration, usage, and manufacturing variability.

9,10,12,14 IDC WW Quarterly Enterprise Storage Systems Tracker, Q3 2017, November 2017 Vendor Revenue

11 Based on ESG Lab Validation report commissioned by Dell EMC, “Dell EMC Isilon All-Flash,” June 2017.

13 Principled Technologies report commissioned by Dell EMC, Handle more orders with faster response times, today and tomorrow, July 2017, comparing a similarly configured Dell EMC VxRail P470F vs. HPE SimpliVity 380, using 50ms think time and 36 VMs. Actual performance will vary based on configuration, usage, and manufacturing variability.

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Foscam Cloud

Foscam.US (aka Foscam Digital Technologies and now Amcrest Technologies) is an independent United States based distributor of “Foscam” branded products. We have been offering telephone support, US local warranty and building the Foscam brand in the US for the past 7 years. Based on our experiences with Foscam and feedback from end users we have launched our own new and improved line of wireless IP cameras and security systems under the Amcrest brand. Working in partnership with the second largest security camera manufacturer in the world, Amcrest was founded with a deep commitment to end-user privacy and security, highly reliable software and hardware as well a seamless and intuitive user experience. For more information, please visit http://www.Amcrest.com

If you are having trouble with your Foscam cameras,we sincerely apologize for this inconvenience and would love to help.For technical support, response to inquiries and for obtaining replacements for any Foscam IP Cameras or NVR products, please reach out totech@foscam.comor call1-844-344-1113.

If you are interested in exchanging your Foscam camera for an Amcrest camera, we can offer you a massive loyalty discount, even if you are out of warranty. Please send an email tosupport@amcrest.com,sales@amcrest.comor call1-888-212-7538

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How do I report Cryptocurrency Mining income? – TurboTax …

You have two different income streams to consider.

When you mine the coins, you have income on the day the coin is “created” in your account at that day’s exchange value. You can report the income as a hobby or as self-employment. If you report as a hobby, you include the value of the coins as “other income” on line 21 of form 1040. Your ability to deduct any expenses is limited — expenses are itemized deductions subject to the 2% rule.

If you report as self-employment income (you are doing “work” with the intent of earning a profit) then you report the income on schedule C. You can fully deduct your expenses (if you can prove them) (see later). The net profit is subject to income tax and self-employment tax.

Your second income stream comes when you actually sell the coins to someone else for dollars or other currency. Then you have a capital gain (if they were worth more when you sold them than when you mined them) or you have a capital loss (if they are worth less when you sell them). And the gain or loss will be taxed differently if it is a short term gain (you held it one year or less) or long term (more than one year). You will need to keep track of each coin you create (date, value) and when you sell it (date and value).

And of course, if you immediately sell the coin for cash, then you only have income from the creation, you don’t also have a capital gain or loss.

Now, as far as expenses are concerned, if you are doing this as a schedule C business, you can take an expense deduction for computer equipment you buy (as depreciation, subject to all the rules) and your other expenses (mainly electricity, maybe a home office). But you need to be able to prove those expenses, such as with a separate electric meter or at least having your computer equipment plugged into a portable electric meter so you can tell how much of your electric bill was used in your business. Unless your expenses are very high, they won’t offset the extra self-employment tax, so you will probably pay less tax if you report the income as hobby income and forget about the expenses. (On the other hand, if you report it as self-employment and pay SE tax, that adds to your credits in the social security system which may allow you to qualify for a higher retirement benefit. Having self-employment income on schedule C also allow you to claim some tax deductions like an IRA that you can’t claim if all your income is hobby or “other” income. So there may be benefits to paying SE tax in the long run.)

If you earn more than a couple thousand dollars per year you will need to think about making estimated tax payments as well.

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When do you report Cryptocurrency investments? – TurboTax …

CloseWhy do you want to report this?

I found a solution for high-frequency traders! I’m using CoinTracking (10% discount using this link http://afino.link/cointracking) + http://Form8949.com CoinTracking provides a TurboTax TXF file you can import into Form8949.com. I paid $190 for CoinTracking (Unlimited for 1 Year), and $28 for Form8949.com. Form8949.com sent the data to my TurboTax Online account. Because I had 4000+ cryptocurrency trades, it added “summary” information, and then it also provided me with 120 pages I had to print out, and mail to the IRS so that they have each individual trade on file. A side note though.. you’re going to run into a slew of issues using CoinTracking if you are trying to set it up NOW, as opposed to setting it up for a new cryptocurrency portfolio, therefore.. I did my best to manually add trades, transfers, and transactions for the 2017 tax year, but then I wiped the entire CoinTracking history, and started fresh with API Keys linking Coinbase, GDAX, Bittrex, Cryptopia, and HitBTC so that all of my trades, transfers, and transactions are now being tracked automatically (set API Key DATE to the current date and time to only receive API Key data now, and avoid the API sending previous data, which is most likely messed up if you haven’t been tracking this entire time). Join our Facebook group if you want to post a question or send me a message (good luck!): http://Facebook.com/Groups/AfinoCrypto

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Bitcoin, Altcoin and Cryptography explained

Bitcoin is the best known cryptocurrency at this moment, also called virtual money. Bitcoin is decentralized, this means there is no owner or central control. Transactions in the Bitcoin network are sent in a cryptographic form and processed by miners using computers and specialized hardware with huge calculating power.On this page the following subjects will be described:

How does the Bitcoin network work?What is an altcoin?Advantages of crypto currenciesCompare hardware wallets

The Bitcoin netword is based ona blockchain, an administration of all transactions between the different bitcoin addresses. Every 10 minutes a new block will be created, containing all transactions of these 10 minutes plus the previous block. Every transaction will exist forever (as long as the blockchain exists).

Along with the information of the transaction, other information can be added in a block. It is not possible to change or delete this information. Adding information will create many interesting user posibilities, which do not exist in other payment methods.

Bitcoins can be mined by using special hardware to translate encrypted codes. These codes represent all transactions in a block, and the miner who finds the block first will be rewarded with an amount of bitcoins (currently 12,5). The financial effort you have to put into mining, like costs for electricity and hardware, is called proof of work.

This makes the bitcoin blockchain super secure, because to alteror delete something in the blockchain you will have to input a greater proof of work than all of the current miners together. At that moment the total computing power (hash power) that is mining on the Bitcoin network is so incredibly huge, that for a single person, company, or even government, it is impossible to deliver more hash power to over ride the current mining operation.

Besides finding new blocks, miners will also earn on transaction fees. The most amount of bitcoins that will ever be found is limited to 21 million, and they will be harder to find because every four years the mining reward will be reduced by fifty percent. The value of bitcoin will not be affected by dilution, because the supply is limited. That understood, bitcoin can be a profitable investment in times of quantitive easing and you can store them safely on a hardware wallet.

Besides bitcoins, there are many altcoins on the market. An altcoin (alternative coin) is a virtual coin, same as bitcoin, based on cryptography. There are hundreds of different alt coins available and most of themhave the goal to become an improved version of Bitcoin.The best known alt coins are Ethereum, Lightcoin, Zcashand Monero, and are designed with a focus on a specific application. Some of these coins are certainly interesting, but the grand question is will they win the race with Bitcoin to become the most dominant coin. Bitcoin is by far the most famous and accepted coin. All the hardware wallets are also supporting some alt coins.

Cryptocurrencies like Bitcoin contain big advantages compared to fiat money. A Bitcoin wallet is anonymous and so you dont have to provide your name and address. As long as you own the public key of the wallet, you have the power over the bitcoins you own.

Furthermore the transaction costs are extremely low and there is no 3rd party able to cancel your transaction. In a short period of time you can send an unlimited amount of money all over the world. Also, small payments are possible with Bitcoin, creating many new possible applications.

Maybe the most promising application, not known by many people yet, is the ability to add information into the blockchain. For example, you can make a house payment and directly register the ownership in the blockchain. Besides ownership you can also register other things like your identification.

In the future, Bitcoin and blockchain technology will create applications like smart contracts and automated payments between machines, changing the status quo. In addition, crowd funding will be raised to a new level.Bitcoin use can apply to many financial functions like store of value (gold, silver), hedging against crashes of stocks, other financial products, and of course, just as a payment system.

Reed more:

What is a hardware wallet?

Everything about security of your bitcoins.

Trezor wallet reviewed.

Ledger wallet reviewed.

Keepkey wallet reviewed.

Bitcoin

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Must I pay tax this year if I transfer bitcoin from …

“In 2014, the IRS issued a noticeclarifying that it treats digital currencies such as Bitcoin as capital assets and are therefore subject to capital gains taxes. The notice provides that virtual currency is treated as property for U.S. federal tax purposes, it reads. General tax principles that apply to property transactions apply to transactions using virtual currency.

The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer.

Thus, not every transfer of funds is considered a sale. For the user, sending bitcoins from a Coinbase account to their Trezor hardware wallet, for example, is only a transfer and not a sale since the user is still in possession of the coins.

You should keep your own records for best results and update the report accordingly, Coinbase support explains. For example, if you transfer funds offsite to a desktop wallet, and then back again, you would not count this as a sale of digital currency.

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Will a 1099-B form work best for reporting bitcoin …

How to report bitcoin transactions depends on how they are classified.

Here is some TurboTax guidance to help you decide where to report transactions:

It depends on how those currencies were held and used. Based on that, the IRS determines whether to treat the currency as income or property.

Bitcoin used to pay for goods and services is taxed as income:

Bitcoin held as capital assets is taxed as property:

If you hold Bitcoin as a capital asset, you must treat it as property for tax purposes. General tax principles applicable to property transactions apply. In other words, just like stocks or bonds, any gain or loss from the sale or exchange of the asset is taxed as a capital gain or loss. Otherwise, the investor realizes ordinary gain or loss on an exchange.

Bitcoin received as incomeand then held and sold for profitis taxed as both:

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Yes. The IRS is taking cryptocurrency very seriously, to the extent that they took the digital currency exchange Coinbase to court to obtain user records and now have a contract with digital forensics company Chainalysis to help track cryptocurrency transactions.

Note: Many people have been unsure of how to treat Bitcoin, so you may have recorded earnings incorrectly on prior returns. If you need to amend a previous return, follow these steps. (We also have a video that shows you how.)

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Virtual Network Virtual Private Cloud | Microsoft Azure

Your private network in the cloud

Customers running Virtual Network

Azure Virtual Network gives you an isolated and highly-secure environment to run your virtual machines and applications. Use your private IP addresses and define subnets, access control policies, and more. Use Virtual Network to treat Azure the same as you would your own datacenter.

Traffic between Azure resources in a single region, or in multiple regions, stays in the Azure networkintra-Azure traffic doesnt flow over the Internet. In Azure, traffic for virtual machine-to-virtual machine, storage, and SQL communication only traverses the Azure network, regardless of the source and destination Azure region. Inter-region virtual network-to-virtual network traffic also flows entirely across the Azure network.

In a virtual network, run your favorite network virtual appliancesWAN optimizers, load balancers, and application firewallsand define traffic flows, allowing you to design your network with a greater degree of control.

Use Virtual Network to extend your on-premises IT environment into the cloud, like you set up and connect to a remote branch office. You have options to securely connect to a virtual networkchoose an IPsec VPN or a private connection by using Azure ExpressRoute.

Use Virtual Network to build your hybrid cloud applications that securely connect to your on-premises datacenterso an Azure web application can access an on-premises SQL Server database, or authenticate customers against an on-premises Azure Active Directory service.

Use Virtual Network to build your services that rely on Azure cloud services and Azure Virtual Machines. Use Azure web roles for your front end and virtual machines for backend databases. Combine platform as a service (PaaS) and infrastructure as a service (IaaS) in a virtual network to get more flexibility and scalability when youre building apps.

Find and take advantage of popular networking appliances, load balancers, and firewall and traffic management solutions in the Azure Marketplace.

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Bitcoin (BTC) price: News & Live Chart – Trading Analysis …

Bitcoin is a digital currency, sometimes referred to as a cryptocurrency, best known as the world’s first truly decentralized digital currency. Bitcoin is traded on a peer-to-peer basis with a distributed ledger called the Blockchain, and the Bitcoin exchange rate to the US Dollar and other major currencies is determined by supply and demand as with other global exchange rates. The traded value of Bitcoin has proven volatile through various booms and busts in demand. Ultimately, however, many see Bitcoin as a store of value against government-backed fiat currencies.

Abbreviated as BTC, Bitcoin is actively traded against the world’s major currencies across decentralized markets. Bitcoins are kept in so-called Bitcoin wallets, which depend on private keys and cryptography to secure its Bitcoins to a specific entity or user.

By comparison to government-backed global currencies, Bitcoin remains fairly complex for the typical user to acquire and use in regular transactions. Growing interest and significant global investments in Bitcoin wallet and Blockchain technology have nonetheless made buying and selling Bitcoin far more accessible to the average user. And indeed growing acceptance by government entities have ameliorated the ambiguity of legal and regulatory status for Bitcoin and Bitcoin exchanges.

You can find historical price of Bitcoin on our chart and latest news and analysis on the Bitcoin exchange rate.

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