Is there a risk like a blind spot in cryptocurrency trading? Be careful when installing update programs!
Hello everyone, installation time! Yesterday I nearly had a scare@xi10jun1is what I would say.
Actually, there was a pretty nerve-wracking incident last night, so I hurriedly rewrote the contents to make it a column.
And continuing from last time, the column name has changed from “Relaxed! Bitcoin Trading Research Institute” to the new title “[Weekly] Virtual Currency Trading Life”! Thank you for your continued support.
Note: This column is designed so that half of it can be read for free, like a conscience-fulfilling design. Of course, if you read up to the paid portion (updated weekly at 400 yen per month, so about 80–100 yen per column), I would be very encouraged, and I would be happy if you subscribe as a tip!
This week’s performance (January 5, 2018 to January 11, 2018)
First, as usual, the performance. I will present the gains and losses first.
- Last week (until January 4, 2018) assets: 59,464 yen
- This week (until January 11, 2018) assets: 59,464 yen
- Change: 0 yen
In fact, I did not trade this week. I had planned to write about this, but what I will discuss later is more important, so I’ll write it here.
This week, the timing didn’t line up for me. When I access the trading screen, I glance at the chart and if it looks like I can trade, I trade; if it looks unlikely, I don’t.
I have set such a rule, but this week I almost every day had that sense of “it doesn’t look good.”
There are various reasons for this, but I feel I may be getting too nervous. In any case, rushing does not lead to good results, and Bitcoin’s market is in a downtrend, so I’ll resume trading once I calm down.
Now, as the title suggests, today’s column is about being careful with installing update programs.
Browser forced to close due to PC reboot!
I panicked.
I had been taking a bath with the browser open, and when I finished, I saw the message, “Installing updates…” on the screen.
Yes, I understand that updates are installed automatically. And I also understand that applying updates quickly is important.
But still, forcibly closing the browser while it’s in the middle of work and rebooting is troublesome.
If I were in the middle of BTCFX trading, my face would have turned pale at the thought.
From online searches, it seems you might be able to stop automatic restart, so I tried changing the settings for now.
→How to stop Windows 10 from restarting after applying updates - Net Log
Free section summary: Updates and restart can forcibly end trading too!
Be especially careful with Windows’ “updates and restart forcing end of trading.”
In the future, I think trading-only software like from securities companies will come out, but what if that restarts are forced to end trading too? What if you hadn’t set a stop loss?
You can’t always stay hyper-vigilant, but there are rare cases. Keep it in mind.
So this paid column will write about future prospects.
Closing Corner 1: Latest Tax Information! Updated December 8, 2017
The National Tax Agency’s site has updated the latest legal views regarding Bitcoin.
That is here→No.1524 Taxation relations when profits are made by using Bitcoin｜Income Tax｜National Tax Agency
According to this, profits obtained by using Bitcoin have been deemed as “miscellaneous income.”
So, for me, profits from margin trading are, in principle, miscellaneous income. As I have noted in the closing corner before, my blog’s article (→Declaring BTC Margin Trading (BTCFX)! Comprehensive Taxation of Miscellaneous Income? Separate Taxation? | Relaxed Generation Investor jun) was similar, but it seems loss offsets aren’t possible. I wish this could be addressed somewhere...
Also, according to NewsPicks comments by Yuzo Kano, President and CEO of bitFlyer (No.1524 Taxation relations when profits are made by using Bitcoin - NewsPicks), if you bought Bitcoin for 100,000 yen and used it to buy something worth 500,000 yen, the difference of 400,000 yen is recognized as profit.
When you spend Bitcoin on goods or services, if the price of Bitcoin at the time of payment is higher than at the time of purchase, that difference is recognized as profit. So, if you use Bitcoin for shopping at FANCY below, this will apply, so be careful.
And on December 1, 2017, the National Tax Agency published a document on how to calculate income.
That is here→Method of calculating income related to virtual currencies (pdf)｜National Tax Agency
Note that laws and tax interpretations can change, and tax filing or payment methods may change. Before filing, be sure to check with your nearest tax office or a tax advisor.
As expected, BTCFX profits remain miscellaneous income. I wish taxes would become 20% with separate taxation soon...
Closing Corner 2: In Planning
I’m thinking of writing about new cryptocurrency news and information, but I haven’t thought of anything yet. I’ll post here as soon as I decide on a plan!
Note: the free section ends here. The rest is detailed analysis and future outlook, so it is paid. If you want to read more, of course, or if you would subscribe as a tip, that would be greatly appreciated. Thank you for your continued support!
