Created by: rf1m

Feature Request

Summary

Wallet defrag transactions reduce a user's balance, yet there is no information for new users why a withdrawal they didn't explicitly authorize is happening. The new user has no idea if their PC has been hacked or if a hostile actor is making a test to steal from their SIA balance that might later be repeated with a larger unauthorized withdrawal or what is happening. They also don't know if it's a bug or expected.

Feature Request

The wallet transaction log should be enhanced with an indication explaining this is an automated function of the software with some explanation why they are losing money they deposited or earned. This indication could be a tooltip, a visual differentiation for rows that are automated housekeeping transactions, a notes column or something else. The UI change should make clear to the user what happened without requiring them to track down online help in forums, a faq or disturb a Sia support representative and it should cause the user no alarm.

Balance may be incorrect

It also makes the balance in the wallet no longer match the "All-Time Paid Out" total on siamining.com and so for miners complicates verifying all their mining payouts went through correctly. There should be some place in the wallet software that totals these automated withdrawals to simplify verifying your wallet received all your mining payouts if you are a miner.

US Tax Implications

In 2018 the US Tax rules changed and all transactions need to be accounted for in USD equivalents as of the time they happened (you can no longer group everything together and deal with it when you convert your crypto to fiat) so each of these "wallet defrag" transactions, even though they are small, create a "taxable event" for the user which they will need to determine profit or loss and record, track, categorize, total. They will either need to account for it as "lost, stolen, hacked or fraud" in case they are ever audited and need to review their crypto records with an IRS tax auditor or they will need to categorize it as a fee or expense for using the SIA software, categorizing them as "spend". Each user will have to get the opinion of their tax professional as to how to categorize these balance reductions from their previously documented earnings which are already recorded as taxable income.