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Ravencoin and ethereum (classic) accounting tools
So I've been hacking away at the accounting tool for ethereum (classic) today, adding support for converting the USD rate for ETH/ETC to another currency, based on data provided in the CSV format.It's mostly here:
https://github.com/morphex/ethereum-classic-taxman/commit/08...
I had to code my way around one thing in that respect, and that's because the USD-NOK rate for example is provided by the central bank, and they don't provide rates for Saturday, Sunday etc. So when transactions are made on days like that, the nearest, previous USD-NOK rate is used.
It seems reasonable to solve it that way, because something tangible (known) is better and more logical that whatever rate might come the day or even days after the transaction.
I also started work on another crypto currency accounting tool today
https://github.com/morphex/ravencoin-taxman/
Ravencoin Taxman. This takes a different approach from ethereum-classic-taxman, as it works with CSV data retrieved from a block explorer service. It doesn't download transactions and blocks from a node.
It takes much less (programming) time and (computer) resources to do it that way, but I also noticed that it was difficult to get CSV exports of ETC transactions on major / well known ETC block explorers today. This shows that it is useful to have a tool that is independent of for example block explorers, something that will work with just a node available.
The ravencoin-taxman code will need to have some crypto (RVN-USD) rate and fiat rates databases as well, I think I might just copy over most of the code for that from the ethereum-classic-taxman project. It doesn't seem like there will be much if any changes to those code bits in the future, and I don't see any obvious way now of making a package that will fit for both projects.
So I guess the only major bit left for both projects is getting the valuation (crypto currency * crypto currency rate in USD) combined with FIFO correct. That would pave the way later for example for tax reduction later, choosing the crypto-currency with the highest value when received for outgoing transactions. Which leads to less taxes due.
[Permalink] [By morphex] [Python and web (Atom feed)] [07 May 23:56 Europe/Oslo]