Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 23. (Read 122902 times)

When Polygon support?

Thanks Andreas for clarifying.  I misunderstood the IOTA -> MIOTA example on Advanced Settings page.

@MuAnon
Not sure if I get you here.
It should only be done if you need to reset all your asset values, but only as "emergency case", but not regularly.
So this is nothing about back and forth as asset values are key.
And yes it will wipe out all manually set/adjusted asset values of course.

Could use some top-down workflow advice...which order to do things.

For example "Reset calculated Asset Values". Are we supposed to always do this after bulk-correction of wrongly assigned coins/tokens?

But that will also wipe out all manual asset valuation edits?

If so, what's the solution for going back and forth between these two tasks?

Thx

@theratears
We add this to our improvement list.

Hi could you please look at supporting Ronin wallet imports. Mainly used for Axie Infinity

@MuAnon
I leave answering your post to the community.
Just want to add some FAQs where all you questions are described:
Fiat, coin and commodities price sources, individual exchange price, change Fiat account Currency (https://cointracking.freshdesk.com/a/solutions/articles/29000007214?lang=en)
Big differences in gains between best / counterpart / transaction price calculation (https://cointracking.freshdesk.com/a/solutions/articles/29000025558?lang=en)
Gains - Prices Setting (Dropdown)(https://cointracking.freshdesk.com/a/solutions/articles/29000018289?lang=en)

If you would pay in an OTC trade 100 USD for coin ABC but the averaged weighted market price (worth) is 90 USD at this time then we take the 100 USD at face value (since FIAT has highest priority) if you choose best price, but choosing the transaction prices would then take the 90 USD.

Cointracking Asset Valuation vs Transaction Pricing

I'm trying to get a basic understanding of the approach taken by Cointracking to asset valuation, and its effect on the accuracy of the many available reports.

From what I can tell, when cointracking imports a trade transaction, it sets its own fiat asset valuations for each half of the transaction based on external price feeds, rather than assuming matching fiat valuations for both halves of each imported trade transaction.

Example: Trade 1: 100 ABC purchased for 100 USDT.  Trade 2: 100 ABC sold for 150 USDT.  So real-world a profit of 50 USDT from entry to exit, probably converted to $50 realized gain?

But what if Cointracking's valuation of ABC's fiat value in each of these two trades is different?  Let's say it shows ABC worth $90 on entry and $160 on exit.

In this case the two halves of each trade transaction don't match.  Trade 1 shows 100 USD value for selling 100 USDT, but 90 USD value for the same transaction's purchase of ABC.

1st question: What's the point of this?  Does Cointracking maybe want to capture that $100 was spent for $90's worth of ABC coin?  But for the integrity of all generated reports, isn't what's more important only an accurate representation of what was paid and what was received?

Also, in the 'Realized Gains' report, there is a dropdown for Best Prices, Transaction Prices, Counterpart Prices, etc.  Yet modifying this doesn't modify the valuations seen in the 'Enter Coins' list.

Why should the two halves of a single trade transaction ever not be a fiat-equivalent match?

Is there a setting or other way to tell cointracking to always set both halves of each trade transaction to matching fiat values?  Perhaps if one half is a stablecoin that would get preference, then going down the list of btc, eth, bnb, etc?

How important is it to get the 'Enter Coins' valuations exactly right?  What impact do inaccurate valuations have on the integrity of the reports?

How do you experienced users handle persistent mispricing of asset valuations in fiat terms?

From a gains calculation perspective, what choice in the "Best Prices" dropdown best represents real-world cap gains and losses?

Can this selection somehow render moot the mispricings of fiat asset valuations on the per-transaction level?

We are working on an own Forum where those feature options you mentioned will be implemented then somehow.

Thank you - yes I know, your team is generally very responsive to tickets.
I think making Feature Requests more public helps to create a sense of community. It can make a big difference if a number of people ask for the same Feature. It can help your team decide on priorities. It gives the community a sense that your team are prioritising items that the users think are important - which I'm sure you strive to do, but this will help.

@dr1ver
Sure, we add this to our improvement list.
Asking for features via Ticket/E-Mail is always possible already right now.

Hi CoinTracking Team

Can I make a request that you please set up a Feature Request webpage?
It should:

• Allow Feature Requests to be created
• Allow Voting
• Show Status of a Request

Kind regards,
dr1ver

We are using those price sources for calculations within our tool. See: "Fiat, coin and commodities price sources, individual exchange price, change Fiat account
Currency" (https://cointracking.freshdesk.com/a/solutions/articles/29000007214?lang=en)

Had you done some research on my posts about this topic you would come to my conclusion.

This tracker like interesting. There are a lot of features coming here to see the prize of a token.  Which is different from other trackers like Coingacko - Coinmarketcap

Glad to hear, thank you.

The MATIC API importer is almost ready to use. We ask you for some more patience and it will be available in summer.

Any plans to add blockchain imports for layer 2 networks? Or more precisely, I'd like to see Polygon (MATIC) network imports. Any information on this? And if so, do you have a target date for this to be implemented? Thanks.

How do you know that it's trivial? Do you have access to their source code or know about their internal workflows?
Even if it were a trivial change, they probably have some other changes that all need to be tested before they push to prod in order to ensure nothing get's f*cked up.
These things take time, be patient. A rushed push to prod is going to be much worse.

Hi I'm sure it's trivial to make the fix now.  Will you please push the update today?  The announcement of the fix can be later.  Thanks in advance.